Samsonite eyes purchase of handbag brand
28/03/2018
He explained that Samsonite wants products designed for women to eventually make up a quarter of its sales. This figure is currently at five per cent.
“Strategically, we are quite interested in handbags. We want to find a brand that fits with the rest of our portfolio of products,” Mr Parker said in an interview with Bloomberg. “The one product we don’t have a big presence in is handbags.”
He revealed the company is not actively approaching potential buyers as it plans to spend the next few years consolidating after recent acquisitions.
One of these was luxury luggage and bag maker Tumi Holdings, which it acquired for $1.8 billion in 2016. Mr Parker suggested Samsonite would be willing to pay a similar sum for a handbag brand “that has an international footprint”.
“We are not afraid of paying a good price for a good business,” he added. “We certainly have the firepower to do it. A good fit is key.”
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